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Kinross Gold (KGC) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Kinross Gold (KGC - Free Report) closed at $6.19, marking a -0.64% move from the previous day. This change lagged the S&P 500's 1.31% gain on the day. Meanwhile, the Dow gained 1.9%, and the Nasdaq, a tech-heavy index, added 1.01%.

Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. This is expected to be July 30, 2020. The company is expected to report EPS of $0.12, up 100% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $3.63 billion, which would represent changes of +61.76% and +3.92%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for KGC. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.26% lower. KGC is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, KGC is holding a Forward P/E ratio of 11.39. For comparison, its industry has an average Forward P/E of 21, which means KGC is trading at a discount to the group.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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